First Watch Restaurant Group, Inc. (NASDAQ:FWRG) Stock Rated “Moderate Buy” by Wall Street Brokerages

First Watch Restaurant Group, Inc. (NASDAQ:FWRG) has been given a consensus rating of “Moderate Buy” by the twelve ratings firms that are covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, one has given a hold rating, eight have given a buy rating and two have issued a strong buy rating on the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $17.90.

FWRG has been the subject of a number of research analyst reports. Guggenheim decreased their price target on First Watch Restaurant Group from $21.00 to $20.00 and set a “buy” rating for the company in a research note on Friday, August 7th. Weiss Ratings downgraded shares of First Watch Restaurant Group from a “hold (c-)” rating to a “sell (d+)” rating in a report on Wednesday, October 14th. Stephens cut their price objective on shares of First Watch Restaurant Group from $21.00 to $18.00 and set an “overweight” rating on the stock in a report on Thursday, October 15th. DA Davidson decreased their price objective on shares of First Watch Restaurant Group from $17.00 to $15.00 and set a “buy” rating for the company in a research report on Friday, October 2nd. Finally, Citigroup lowered their target price on shares of First Watch Restaurant Group from $20.00 to $19.00 and set a “buy” rating for the company in a research note on Wednesday, October 21st.

Institutional Investors Weigh In On First Watch Restaurant Group

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Schwartz Investment Counsel Inc. increased its holdings in shares of First Watch Restaurant Group by 47.7% in the third quarter. Schwartz Investment Counsel Inc. now owns 18,875 shares of the company’s stock valued at $192,000 after purchasing an additional 6,100 shares during the period. Access Investment Management LLC lifted its holdings in shares of First Watch Restaurant Group by 2.3% during the third quarter. Access Investment Management LLC now owns 217,609 shares of the company’s stock worth $2,213,000 after purchasing an additional 4,890 shares during the period. Wavvest Wealth LLC acquired a new stake in shares of First Watch Restaurant Group during the third quarter worth about $412,000. State of Alaska Department of Revenue acquired a new stake in shares of First Watch Restaurant Group during the third quarter worth about $32,000. Finally, Engineers Gate Manager LP boosted its position in First Watch Restaurant Group by 16.1% in the second quarter. Engineers Gate Manager LP now owns 29,200 shares of the company’s stock valued at $376,000 after buying an additional 4,050 shares during the last quarter. 96.11% of the stock is currently owned by institutional investors and hedge funds.

First Watch Restaurant Group Stock Up 8.3%

NASDAQ:FWRG opened at $12.51 on Friday. The company’s 50-day simple moving average is $11.37 and its 200-day simple moving average is $12.49. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.22 and a current ratio of 0.27. First Watch Restaurant Group has a fifty-two week low of $9.88 and a fifty-two week high of $18.77. The stock has a market capitalization of $771.99 million, a P/E ratio of 43.14, a P/E/G ratio of 52.17 and a beta of 1.05.

First Watch Restaurant Group (NASDAQ:FWRG) last posted its earnings results on Tuesday, August 4th. The company reported $0.04 EPS for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.01). The firm had revenue of $354.67 million for the quarter, compared to analysts’ expectations of $351.57 million. First Watch Restaurant Group had a net margin of 1.35% and a return on equity of 2.85%. The company’s revenue was up 15.2% on a year-over-year basis. During the same period in the previous year, the company earned $0.03 EPS. On average, equities analysts anticipate that First Watch Restaurant Group will post 0.14 earnings per share for the current fiscal year.

About First Watch Restaurant Group

First Watch Restaurant Group, Inc operates a daytime-focused restaurant concept serving breakfast, brunch and lunch. Its restaurants offer made-to-order meals such as omelets, pancakes, French toast, sandwiches, salads and bowls, along with fresh juices, coffee and other beverages. The company generally does not serve dinner, positioning its restaurants around the daytime dining occasion.

First Watch restaurants emphasize fresh preparation and seasonal menu offerings, including items made with eggs, fruits, vegetables and other ingredients prepared in the restaurant.